On or around 11/15/2018 (Other)
Filing Date: September 11, 2018
According to the Complaint, Web.com Group, Inc. ("Web.com" or the "Company") delivers solutions that owners need to market and manage their businesses, from building brands online to reaching more customers or growing relationships with existing customers. The Company’s products include customized marketing plans that deliver local leads and customer-scheduling or customer-relationship marketing tools that help businesses run more efficiently.
This action stems from a proposed transaction announced on June 21, 2018 (the “Proposed Transaction”), pursuant to which Web.com will be acquired by affiliates of Siris Capital Group, LLC. On September 5, 2018, Defendants filed a proxy statement (the “Proxy Statement”) with the United States Securities and Exchange Commission (the “SEC”) in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement, which scheduled a stockholder vote on the Proposed Transaction for October 10, 2018, omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.
This case was voluntarily dismissed as moot on November 6, 2018.
Company & Securities Information
Defendant: Web.com Group, Inc.
Industry: Software & Programming
Headquarters: United States
Ticker Symbol: WEB
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Adam Franchi, et al. v. Web.com Group, Inc., et al.